Deutsche Telekom (DT) has made a binding offer to buy the 49% of Slovak Telekom (ST) which it does not already own, prompting the Slovakian government to cancel an initial public offering (IPO) for the state-owned shares, according to sources quoted by Bloomberg. The German giant, which acquired its 51% ST stake for roughly USD1 billion 15 years ago, is reportedly now in talks with the government after placing a bid higher than the EUR750 million (USD851 million) the state was set to earn based on the IPO pricing. After closing the IPO order book on Wednesday, the following day Slovak officials unexpectedly announced they were setting aside the share offering because of a better last-minute binding offer, although did not officially name the bidder. Finance Minister Peter Kazimir said: ‘We think that the stake has higher value [than the IPO price] … The reason why we stopped the process is that we are able to sell it for more. The offer is notably better.’ The government will decide on the offer ‘within days, or at most weeks,’ Kazimir added.